Mark Bristow

What can count towards a home loan deposit?

The first step on many a home loan journey is saving up the deposit. Unfortunately, it’s often also a step that many borrowers struggle with, thanks to the high property prices in some Australian cities. Fortunately, there are several methods available to supplement your savings, so you can get your deposit together to buy your property sooner.

Can I add someone to my home loan?

A joint application is one of the simplest and most common methods for two people to end up with their names on a mortgage. Adding a second person to a mortgage that’s already in place can be more complex.

UBank cuts fixed rates for end of financial year home loan sale

Just in time for the end of the financial year, UBank has slashed fixed interest rates on selected home loan deals by up to 24 basis points, for borrowers who apply before 30 June 2021.

Can I get out of a fixed rate mortgage?

Many borrowers love fixed rate mortgages, as they let you lock in a low rate for one to five years. Even if variable rates increase, you’ll keep making the same repayments for the rest of the fixed term. But is it possible to refinance a fixed rate mortgage and switch to a lender offering a lower interest rate?

Can you change your home loan to an investment loan?

Mortgage lenders offer different types of home loans to owner occupiers and to property investors. After all, buying a home to live in is a different type of transaction to buying an investment property, and comes with a different type of risk for the lender. So, what steps would you need to take to turn your owner occupied home loan into an investment loan?

What adds value to a house appraisal?

Thinking about selling your property? By making a few changes to enhance your property’s appeal to potential buyers, you may be able to maximise the house value at your real estate agent’s appraisal. This could help to set buyer expectations, leading to a higher sale price.

What should I ask a lender when I apply for a home loan?

According to a recent survey, eighty-four per cent of Aussies who are yet to buy a property say they need to know more about financial products such as home loans, rates and deposits. With this in mind, it’s important to ask the right questions before you start filling out application forms.

How do you avoid Lender's Mortgage Insurance?

Lender’s Mortgage Insurance (LMI) is an insurance policy that covers the financial risk of a borrower defaulting on their home loan repayments. However, LMI doesn’t protect the borrower, but instead protects the mortgage lender that provides the home loan. Additionally, most mortgage lenders pass the cost of LMI on to borrowers.

Can a student get a home loan?

It is possible for students in Australia to get home loans, provided they can fulfil a mortgage lender’s eligibility requirements. This may not be easy for many students, who already have significant study commitments.

How to pay off your mortgage faster

Not a fan of being in debt? Here are a few tips that could help you get your home loan paid off sooner, so you can own your home or investment property outright, without a mortgage hanging over your head.